The southern oil regions of Iraq are still pumping and exporting oil but the threat by ISIS and the Levant (ISIL), which are the successor organizations to al- Qaeda in Iraq are driving the risk premium in oil. ISIS threatened to continue their assault on Baghdad.

China has approached foreign banks and gold producers to participate in a global gold exchange in Shanghai, people familiar with the matter said, as the world's top producer and importer of the metal seeks greater influence over pricing.